Next Week's Earnings Calendar: Navigating Potential Market Movers

Monday, April 7th

Greenbrier Companies (GBX) - Expected after market close (PM)

Greenbrier, a manufacturer of transportation equipment, is slated to release its earnings after the market closes on Monday. TradingEconomics anticipates an earnings per share (EPS) of $1.24, compared to the previous EPS of $1.03.1 The performance of companies like Greenbrier can offer valuable insights into the broader health of the industrial and freight sectors. Given that their business is closely tied to industrial activity and the movement of goods, active traders in these areas will likely monitor this report for signals about economic momentum and potential shifts in demand.

Limited Major US Earnings Releases

Monday appears to have a relatively light schedule for major earnings releases from prominent US companies.2 This could mean that traders might find themselves focusing more on the reactions to earnings reports from the prior week and any pre-market news flow or emerging macroeconomic developments that could influence market direction. The absence of a heavy earnings calendar on Monday might also lead to a more concentrated market focus on broader economic trends or geopolitical events.

Tuesday, April 8th

Walgreens Boots Alliance (WBA) - Expected after market close (PM)

Walgreens Boots Alliance, a major player in the retail pharmacy sector, is scheduled to report its earnings after the market closes on Tuesday. TradingEconomics anticipates an EPS of $0.5204, a significant decrease from the previous $1.20, along with revenue of $37.59 billion.1 The Zacks Consensus Estimate also points to an EPS of $0.53 . For the full fiscal year, Walgreens has provided an EPS guidance range of $1.40 to $1.80.3 The consensus among analysts suggests an EPS in the range of $0.52 to $0.54 for the quarter, notably lower than the earnings reported in the same quarter of the previous year. Revenue expectations hover between $37.59 billion and $37.9 billion.1

Several recent developments could influence the market's reaction to Walgreens' earnings. The company is currently facing a class action lawsuit alleging securities fraud, with a deadline for lead plaintiff applications having passed on March 31, 2025. This ongoing legal issue introduces an element of uncertainty that could lead to heightened scrutiny of the earnings report and management's commentary regarding regulatory compliance and financial performance. Furthermore, there is an agreement in place for Sycamore Partners to take Walgreens private at a price of $11.45 per share. This acquisition deal likely establishes a ceiling on significant upward price movement beyond the offer price, potentially making the earnings report less of a catalyst for substantial gains unless the deal itself faces unforeseen complications. On a more positive note, Walgreens customers recently raised over $5 million to support wildfire recovery efforts in Los Angeles. While this philanthropic endeavor reflects positively on the company's community engagement, it is not expected to have a material impact on the financial results being reported.

Cal-Maine Foods (CALM) - Expected after market close (PM)

Cal-Maine Foods, the largest producer and distributor of fresh shell eggs in the US, is expected to release its earnings after the market closes. TradingEconomics forecasts a significant increase in EPS to $5.40, compared to the previous $3.01.1 Nasdaq has confirmed the earnings date for Cal-Maine Foods as April 8th, after the market closes. Given the substantial anticipated rise in EPS, traders will likely be keen to understand the factors driving this performance, such as egg prices, feed costs, and overall demand trends in the egg market.

WD-40 Company (WDFC) - Expected before market open (AM)

WD-40 Company, known for its range of maintenance products, is scheduled to report its earnings before the market opens. TradingEconomics anticipates an EPS of $1.27, up from the previous $1.14.1 The company has announced its second-quarter 2025 earnings conference call for Tuesday, April 8th, at 5:00 AM Pacific Daylight Time (PDT), with the earnings press release expected to be released around 4:00 AM PDT. This early morning release of both the earnings and the scheduling of the conference call suggests that traders should anticipate potential pre-market trading activity in WD-40's stock.

Wednesday, April 9th

Delta Air Lines (DAL) - Expected before market open (AM)

Delta Air Lines, a major global airline, is expected to report its earnings before the market opens. TradingEconomics projects an EPS of $0.86, a substantial increase from the previous $0.45, and revenue of $13.51 billion.1 However, other sources indicate a more conservative EPS expectation in the range of $0.40 to $0.46. Delta has also announced a live webcast to discuss its first-quarter 2025 financial results, scheduled for 10:00 AM Eastern Time (ET).10 The discrepancy in EPS expectations across different sources highlights the need for traders to be aware of the range of analyst sentiment.

Leading up to the earnings release, Delta had already lowered its first-quarter EPS guidance to $0.30-$0.50, down from a prior range of $0.70-$1.00. This revision was attributed to a decline in consumer and corporate confidence, which negatively impacted domestic air travel demand. This pre-announcement of weaker guidance suggests that the actual earnings might align more closely with the lower end of the revised range, and traders should be prepared for potential downside if the results fall short even of these lowered expectations. In other news, Delta is planning a significant expansion of its domestic widebody flights for the 2025 summer season. While this strategic initiative signals a focus on increasing capacity and potentially enhancing the passenger experience on key domestic routes, its impact on the first-quarter earnings is likely to be minimal. Delta is also in the process of expanding its free Wi-Fi service to regional jets and transatlantic routes. This move could improve customer satisfaction and potentially drive demand in the long term, but it also represents an investment that might have short-term cost implications. Additionally, Delta is discontinuing its service to French Polynesia. This route adjustment is not expected to have a significant impact on the overall earnings.

Thursday, April 10th

CarMax (KMX) - Expected before market open (AM)

CarMax, the largest retailer of used cars in the US, is scheduled to report its earnings before the market opens. TradingEconomics anticipates an EPS of $0.63, a substantial increase from the previous $0.32, and revenue of $5.91 billion, up from $5.6 billion.1 The Zacks Consensus Estimate points to an EPS of $0.64 , while a Stephens analyst expects an EPS of $0.65 and revenue of $5.94 billion.18 The consensus among analysts suggests strong year-over-year growth in both EPS and revenue.

Ahead of the earnings release, Stephens upgraded CarMax stock to a Buy rating, with an increased price target of $90, citing expectations for the company to meet its fourth-quarter fiscal year 2025 and full-year targets. This positive analyst sentiment could contribute to increased market interest in the stock. Analysts generally anticipate strong earnings growth for CarMax in this quarter, with EPS expected to more than double compared to the same period last year. This high expectation implies that the company will need to deliver robust results to maintain positive market sentiment. CarMax was also recently recognized as one of Fortune's 100 Best Companies to Work For for the 21st consecutive year. While this reflects positively on the company's culture, its direct impact on the stock price is likely to be limited. Furthermore, some analysts believe that CarMax could potentially benefit from prevailing tariff scenarios, as used vehicles might become a more attractive option for consumers facing higher prices for new cars.

Progressive (PGR) - Expected after market close (PM)

Progressive Corporation, a major insurance company, is expected to report its earnings after the market closes. TradingEconomics forecasts an EPS of $3.83, down from the previous $4.20, and revenue of $22.07 billion, up from $18.96 billion.1 The anticipated decrease in EPS despite an increase in revenue might suggest a higher claims volume or other factors impacting profitability. It is important to note that other sources indicate a different earnings date for Progressive, Friday, April 11th, with significantly higher EPS expectations.

Washington Federal (WAFD) - Expected before market open (AM)

Washington Federal, a regional bank operating in the western US, is expected to report its earnings before the market opens. TradingEconomics forecasts an EPS of $0.67, a significant increase from the previous $0.17, and revenue of $191.12 million, up from $155.99 million.1 Earnings from regional banks can offer insights into the health of the banking sector and regional economic conditions.

Friday, April 11th

JP Morgan (JPM) - Expected before market open (AM)

JP Morgan, a leading global financial services firm, is scheduled to release its first-quarter 2025 earnings before the market opens, around 7:00 a.m. Eastern Time. Analysts anticipate an EPS in the range of $4.57 to $4.60, slightly lower than the $4.63 reported in the same quarter last year. Revenue expectations are around $43.7 billion to $43.81 billion.23 Investors will be keen to hear CEO Jamie Dimon's commentary on the macroeconomic environment and the performance of the trading and investment banking divisions, which are expected to be strong.

Wells Fargo (WFC) - Expected before market open (AM)

Wells Fargo, a major US bank, will release its first-quarter 2025 earnings before the market opens, approximately at 7:00 a.m. Eastern Time. Analysts expect an EPS of around $1.22 to $1.23, a slight decrease from the $1.26 reported in the first quarter of the previous year. While revenue expectations for Q1 2025 are not explicitly available in the snippets, the company's Q4 2024 revenue was $20.4 billion.29 Investors will be watching for the bank's outlook for 2025, particularly regarding net interest income and investment banking fees, following a positive market reaction to their previous earnings report despite weaker revenue.

Blackrock (BLK) - Expected before market open (AM)

Blackrock, the world's largest asset manager, is scheduled to report its first-quarter 2025 earnings before the market opens on Friday, April 11th. The company will host a teleconference call at 7:30 a.m. Eastern Time. Analysts anticipate an EPS of $10.83 to $10.84, a significant increase from the $9.81 reported in the same quarter last year. Revenue expectations are in the range of $5.474 billion to $5.7 billion. Investors will likely focus on the company's assets under management (AUM), which reached a record $11.6 trillion in the previous quarter, and the performance of its technology services segment.

Spotlight on Key Earnings Reports: Deep Dive into Potential Movers

Walgreens Boots Alliance (WBA): The upcoming earnings report for Walgreens is particularly noteworthy due to the ongoing class action lawsuit and the pending acquisition by Sycamore Partners. While analyst expectations point to a significant decrease in EPS compared to the previous year, the acquisition agreement likely limits substantial upward price movement. Traders should focus on any updates regarding the acquisition timeline and any commentary on the lawsuit, as these factors could introduce volatility.

Delta Air Lines (DAL): Delta's earnings will be closely watched following the company's revised guidance for the first quarter. The lowered expectations due to decreased travel demand suggest potential headwinds. However, the strategic initiatives regarding widebody flights and Wi-Fi expansion could signal positive long-term prospects. The significant discrepancy in EPS expectations across different data providers warrants caution.

CarMax (KMX): CarMax is expected to report strong earnings growth for its fourth quarter of fiscal year 2025. The analyst upgrade and positive outlook on the used car market suggest that market sentiment is already favorable. However, with high expectations already priced in, the company will need to deliver exceptionally strong results and provide an optimistic outlook to fuel further gains.

Progressive (PGR): The situation with Progressive's earnings is marked by conflicting information regarding the reporting date (Thursday or Friday) and significantly different EPS expectations between different sources. Traders should be aware of this uncertainty and verify the official release date. The positive dividend announcement on the expected earnings day could offer some support to the stock.

JP Morgan (JPM): As one of the leading financial institutions, JP Morgan's earnings are closely watched. Analysts expect a slight decrease in EPS for Q1 2025 compared to the previous year. However, JP Morgan has a history of outperforming expectations. Investors will be particularly interested in the performance of its trading and investment banking divisions and management's outlook on the economy.

Wells Fargo (WFC): Following a positive market reaction to its previous earnings, despite a revenue miss, Wells Fargo's Q1 2025 earnings will be under scrutiny. Analysts predict a slight dip in EPS compared to last year. The bank's guidance on net interest income and investment banking fees will be key factors influencing market sentiment.

Blackrock (BLK): Riding on the momentum of a strong 2024, Blackrock is expected to report an increase in EPS for Q1 2025. The company's record assets under management and growth in its technology services segment have positioned it favorably. Investors will be looking for continued growth in AUM and the performance of its various asset classes.

Major Macroeconomic Events to Watch: Gauging Market-Wide Sentiment

Monday, April 7th

Eurozone Retail Sales (09:00 GMT / 05:00 AM ET)

The release of Eurozone retail sales data will provide insights into consumer spending within the Eurozone. Weaker-than-anticipated figures could exert downward pressure on the Euro's exchange rate and potentially affect the performance of US companies with significant business operations in Europe. Active traders focused on currency movements or European equities should monitor this release.

US Treasury Auction (13-Week & 26-Week Bills - 10:30 AM ET)

The auction of US Treasury bills, while typically having a more muted impact on active traders compared to major economic data, can offer insights into the demand for short-term US government debt. Significant deviations from expected yields or bid-to-cover ratios could signal subtle shifts in investor sentiment regarding risk and the near-term economic outlook.

Tuesday, April 8th

Limited Major US Macroeconomic Events: The economic calendar for the US appears relatively quiet on Tuesday. This could lead to a greater focus on individual company earnings reports and any emerging geopolitical developments.

RBA Governor Michele Bullock's Speech (09:00 GMT / 05:00 AM ET)

A speech by the Reserve Bank of Australia (RBA) Governor Michele Bullock could influence the Australian Dollar and related markets, particularly if her remarks provide any indications about the RBA's future monetary policy intentions. Traders active in AUD-related currency pairs or Australian equities should pay attention to her commentary for potential signals about interest rate adjustments.

US Treasury Auction (8-Week, 17-Week, 4-Week Bills - Various Times)

Similar to Monday's Treasury bill auctions, these events typically have a limited direct impact on active traders unless there are unexpected outcomes.

Wednesday, April 9th

New Zealand Reserve Bank (RBNZ) Interest Rate Decision & Accompanying Statement (02:00 GMT / Previous Day 10:00 PM ET)

The RBNZ's interest rate decision and the accompanying statement are likely to cause significant volatility in the New Zealand Dollar. Traders in NZD-related currency pairs should be prepared for potential price swings as the market interprets the central bank's policy stance and outlook on inflation and economic growth.

US Crude Oil Inventories (Time not specified)

The weekly report on US crude oil inventories can influence oil prices, which in turn can impact energy stocks and broader inflation expectations. Active traders in oil futures or energy equities will be monitoring this release for indications of supply and demand dynamics in the oil market.

FOMC Meeting Minutes (18:00 GMT / 02:00 PM ET)

The release of the Federal Open Market Committee (FOMC) meeting minutes is a highly anticipated event that can lead to significant market volatility across various asset classes. Traders will be scrutinizing the minutes for deeper insights into the Federal Reserve's discussions and considerations regarding monetary policy, inflation, and the overall economic outlook. Any hawkish or dovish signals within the minutes could trigger notable market reactions.

US Treasury Auction (17-Week Bill - 10:00 AM ET)

This Treasury bill auction is unlikely to have a major direct impact on active traders unless there are significant surprises in the results.

Thursday, April 10th

China Consumer Price Index (CPI) (01:30 GMT / Previous Day 09:30 PM ET)

The release of China's CPI data is an important indicator of global inflation trends and can affect Asian currencies and commodity prices. Higher-than-expected inflation in China could lead to expectations of tighter monetary policy, potentially impacting global growth sentiment.

US Core CPI and CPI (12:30 GMT / 08:30 AM ET)

The US CPI report, particularly the core CPI which excludes volatile food and energy prices, is a crucial inflation indicator that will be closely watched by the market. Higher-than-expected readings could fuel expectations of further interest rate hikes by the Federal Reserve, potentially strengthening the US dollar and putting downward pressure on equities and bonds.

US Unemployment Claims (Time not specified)

The weekly report on US unemployment claims provides a timely snapshot of the labor market. A significant increase in claims could signal a weakening economy and potentially influence the Federal Reserve's monetary policy outlook.

US Treasury Auction (4-Week, 13-Week, 26-Week, 8-Week Bills - Various Times)

These Treasury bill auctions are generally not major market-moving events for active traders unless there are unexpected outcomes.

US Real Earnings (08:30 AM ET)

The release of US Real Earnings data will provide insights into the inflation-adjusted earnings of workers. This can influence consumer spending forecasts and overall economic outlook.

Friday, April 11th

German Harmonized Index of Consumer Prices (HICP) Final Estimate (06:00 GMT / 02:00 AM ET)

The final estimate of Germany's HICP will provide a key indicator of inflation within the Eurozone's largest economy. Similar to the US CPI, higher-than-anticipated inflation could put upward pressure on the Euro.

US Producer Price Index (PPI) (12:30 GMT / 08:30 AM ET)

The US PPI measures inflation at the wholesale level and can be a leading indicator of future consumer price inflation. Higher-than-expected PPI figures could reinforce concerns about persistent inflation and potentially lead to expectations of more aggressive monetary tightening by the Federal Reserve.

University of Michigan Consumer Sentiment Index (Preliminary Release) (14:00 GMT / 10:00 AM ET)

The preliminary release of the University of Michigan Consumer Sentiment Index reflects American consumers' confidence in the economy. A higher-than-expected reading typically strengthens the US dollar, while a lower reading could weaken it.

Other US Economic Data: Several other US economic data points are scheduled for release on Friday, including Core PPI m/m, PPI m/m, and the Prelim UoM Inflation Expectations.27 These reports will provide further insights into inflation pressures and consumer outlook. Additionally, there's a mention of US GDP m/m (GBP) 27, which appears to be a data error and likely refers to UK GDP.

Conclusion: Trading Considerations for the Week Ahead

The upcoming week is poised to be an active one for traders, with a significant number of earnings reports, particularly from Walgreens, Delta Air Lines, CarMax, Progressive, JP Morgan, Wells Fargo, and Blackrock, all carrying the potential for substantial price movement. The mid-week macroeconomic calendar is particularly dense, featuring the FOMC meeting minutes and crucial US inflation data (CPI and PPI), which are likely to be major drivers of broad market sentiment and volatility.

Active traders might consider focusing on the individual stock volatility surrounding the key earnings releases, looking for potential trading opportunities based on whether the reported results and management guidance exceed or fall short of market expectations. Sector-wide movements could also materialize following the earnings reports of major players like Delta in the airline industry, CarMax in the automotive retail sector, and JP Morgan, Wells Fargo, and Blackrock in the financial sector. Furthermore, the macroeconomic data releases, especially the inflation figures, will likely influence overall market direction and could create opportunities for trading based on anticipated reactions in interest rates, currency valuations, and equity prices.

Given the potential for significant price swings, it is crucial for active traders to employ robust risk management strategies, including setting appropriate stop-loss orders and carefully managing position sizes. Staying informed about any breaking news or unexpected developments will also be essential for navigating the dynamic market conditions expected throughout the week.

Remember that this overview provides informational insights and should not be considered financial advice.